Insurer Financial Strength Ratings

AIG Insurance New Zealand LimitedA+Standard & Poor’s
Allianz Australia Insurance Limited AA-Standard & Poor’s
Ando Insurance GroupAAM Best
Berkshire Hathaway Specialty Insurance CompanyAA+Standard & Poor’s
Chubb Insurance New Zealand LimitedAA-Standard & Poor’s
FMG Insurance LimitedAAM Best
NZI, a business division of IAG New Zealand LimitedAAStandard & Poor’s
Lloyds of LondonA+Standard & Poor’s
QBE Insurance (Australia) Limited (NZ Branch)AA-Standard & Poor’s
Star Insurance LimitedAA+Standard & Poor’s
Vero Insurance New Zealand LimitedAA-Standard & Poor’s
Vero Liability Insurance LimitedAA-Standard & Poor’s
Zurich Australian Insurance Limited AA-Standard & Poor’s

Updated 9 October 2025 

Rating explanation

AAAExtremely Strong
AAVery Strong
AStrong    
BBBGood
BBMarginal
BWeak
CCCVery Weak
CCExtremely Weak
SDSelective Default
DDefault
RRegulatory Supervision    
NRNot Rated

The ratings from “AA” to “CCC” may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories. The rating scale above is in summary form.

A full description of this rating scale can be obtained from www.standardandpoors.com.

A++, A+Superior
A, A-Excellent
B++, B+Fair
C++, C-Marginal
C, C-Weak
DWeak
EUnder Regulatory Supervision
FIn Liquidation
SSuspended
  

Ratings from “A” to “C” also may be enhanced with a double plus (++), plus (+) or minus (-) to indicate whether credit quality is near the top or bottom of the category.

Outlook definitions

  • Positive - Indicates possible rating upgrade due to favourable financial/market trends relative to the current rating level.
  • Negative - Indicates possible rating downgrade due to unfavourable financial/market trends relative to the current rating level.
  • Stable - Indicates low likelihood of a rating change due to stable financial/market trends.